Catalyst Pharmaceuticals Stock Forecast
Red day on Thursday for Catalyst Pharmaceuticals
(Updated on May 02, 2024)
The Catalyst Pharmaceuticals stock price fell by -1.18% on the last day (Thursday, 2nd May 2024) from $15.20 to $15.02. During the last trading day the stock fluctuated 4.25% from a day low at $14.84 to a day high of $15.47. The price has fallen in 6 of the last 10 days and is down by -2.09% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -163 thousand shares and in total, 856 thousand shares were bought and sold for approximately $12.86 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $14.55 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.15% during the next 3 months and, with a 90% probability hold a price between $15.88 and $19.73 at the end of this 3-month period.
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CPRX Signals & Forecast
There are few to no technical positive signals at the moment. The Catalyst Pharmaceuticals stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $15.03 and $15.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -11.70%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Catalyst Pharmaceuticals stock
Catalyst Pharmaceuticals finds support from accumulated volume at $14.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.630 (4.25%) between high and low. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPRX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Catalyst Pharmaceuticals to open at $15.11, and during the day (based on 14 day Average True Range), to move between $14.46 and $15.58, which gives a possible trading interval of +/-$0.557 (+/-3.71%) up or down from last closing price. If Catalyst Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 7.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.13 (0.73%) than the support at $14.56 (3.06%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Catalyst Pharmaceuticals will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.340. We will update the financials statements for Catalyst Pharmaceuticals, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.99% in the first trading day after earnings release.
Is Catalyst Pharmaceuticals stock A Buy?
The Catalyst Pharmaceuticals stock holds several negative signals and despite the positive trend, we believe Catalyst Pharmaceuticals will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.442 Sell Candidate Unchanged
Predicted Opening Price for Catalyst Pharmaceuticals of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $15.11 ( 0.599%) | $15.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.74 | 4.79 % | |
| R2 | 15.50 | 3.19 % | ||
| R1 | 15.35 | 2.20 % | ||
| Current price: | 15.02 | |||
| Support | S1 | 14.87 | -1.00 % | |
| S2 | 14.72 | -1.99 % | ||
| S3 | 14.48 | -3.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.01 | 13.25 % | |
| R2 | 16.03 | 6.72 % | ||
| R1 | 15.13 | 0.732 % | ||
| Current price | 15.02 | |||
| Support | S1 | 14.56 | -3.06% | |
| S2 | 13.64 | -9.19% | ||
| S3 | 13.18 | -12.25% |
FAQ
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